Jackson Palmer: The Cryptomarket Is All Wrong

Australian entrepreneur Jackson Palmer is blown away by his cryptocurrency.
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Dog
ecoin was created as a joke, but this cryptocurrency has reached a market capitalization of $2 billion.

According to the entrepreneur, the altcoin-meme Dogecoin, created by him in 2013, was designed to help not advanced users to better understand the world of cryptocurrencies. Dogecoin was notable for its low price and friendly community.

But in 2015 the atmosphere in the crypto-world has completely changed, Palmer said - "possibility for the players with big money and obvious plans to earn even more. Technologies have come to the fore. From this moment, the madness in the cryptocurrency market began.

He recalled the classic stock market high: "When a taxi driver tells you to buy shares, you know - it's time to sell them." Palmer remembered this proverb when Uber drivers began talking to him about Ethereum.

I realized that we are entering a new period of speculative cryptomania.

This phenomenon is best characterized by the ICO, he said. In 2017, a boom in the ICO's began, many of which were outright fraud, PlexCoin as an example.

He said earlier that the cryptocurrency market is a bubble. The question, in his opinion, is not "when will it burst?", but "what will happen next?".

As soon as the crypto-bubble will blow away and all the hype with it, will the community be able to once again return energy to build a real innovative technology?

Earlier Ethereum and the general director of the blockchain company ConsenSys Joseph Lubin said that after deflation of the bubble in the market, the cryptocurrency will be updated. The founder of the altcoin NEO is of the same opinion.